BTCUSDT: Pullback To 93K Support Before Return of Bullish Trend
Hello everyone, here is my breakdown of the current BTCUSDT setup.
BTCUSDT previously transitioned from a strong bearish impulse into a recovery phase, where price formed a well-defined upward channel, signaling a corrective bullish structure. Within this channel, Bitcoin produced higher highs and higher lows, confirming temporary buyer control after the sell-off. During this phase, price also formed a consolidation range, reflecting a pause and balance between buyers and sellers before the next move. As price advanced, BTCUSDT approached a major Resistance Zone around 95,50096,000, where selling pressure became evident. Multiple tests of this area failed to produce acceptance above resistance, and a clear rejection / test occurred at the top of the channel. This behavior indicates supply dominance at higher levels. Following the rejection, price broke below the upper channel structure and pulled back toward the Support Zone near 93,000, which previously acted as both demand and a breakout level.
Currently, BTCUSDT is trading below the resistance zone and showing signs of weakness after the failed breakout attempt. The recent breakout below minor support suggests a potential continuation to the downside, while the broader structure remains vulnerable as long as price stays capped below resistance.
My Scenario & Strategy
My primary scenario remains bearish while BTCUSDT trades below the 95,50096,000 Resistance Zone and continues to show rejection from the upper channel. Any pullbacks toward resistance that show weakness or rejection may offer short opportunities, with downside continuation toward the 93,000 Support Zone as the first objective. A decisive breakdown below support would open the door for a deeper corrective move.
However, a strong breakout and